Florida State Board of Administration, Tallahassee, committed $846 million to alternative investments, according to John Kuczwanski, FSBA communications manager.
The FSBA, which oversees $176.2 billion, committed $200 million to Blackstone Real Estate Partners Asia, managed by Blackstone Group, and $75 million to Brookfield Fairfield U.S. Multifamily Value Add Fund II, managed by Brookfield Private Equity Advisors. Townsend Group, FSBA's real estate investment consultant, assisted with the searches.
In absolute return strategies, FSBA committed $150 million to HBK Fund II, a flexible multistrategy fund managed by HBK Capital Management, and $100 million to Litespeed Partners LP, an event-driven strategy managed by Litespeed Management.
In private equity, FSBA committed €73.8 million ($101 million) to Permira V, managed by Permira Advisers Group; $100 million to New Mountain Partners IV, managed by New Mountain Capital; and $20 million to Atlas Capital Resources II, managed by Atlas Holdings. Cambridge Associates, FSBA's investment consultant for hedge funds and other alternatives, assisted in the searches for absolute-return and private equity funds.
In addition, FSBA committed $100 million to EIG Energy Fund XVI, a commodities and real assets strategy, managed by EIG Global Energy Partners. Hamilton Lane, an FSBA private equity investment consultant, assisted in the search.
